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Oct 27, 2012
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[applause] >> simon? welcome back, by the way. >> thank you. i'm simon johnson. thank you for inviting me and organizing another great conference. what can cause the next financial crisis? i have three things to say. first of all, i don't know. [laughter] and you don't know, and nobody knows. i worked on financial crisis for twenty five years, i was 2007 through over 2008 the chief economist of the international monetary fund, just down the street. i attended a lot of very interesting meetings during that time period with top officials and private sector people. poem who know as much as can be known about the world's economy and the world's financial system, they collectively and individually had no idea what was happening and what was going to happen in september 2008. the second thing i would say is look around the world. the european situation you heard of a nice summary just now, i'm much less saying about the political risk and the economic risk. i think ultimately italy will have to restructure the sovereign debt as 2 trillion euro in the outstanding debt.
[applause] >> simon? welcome back, by the way. >> thank you. i'm simon johnson. thank you for inviting me and organizing another great conference. what can cause the next financial crisis? i have three things to say. first of all, i don't know. [laughter] and you don't know, and nobody knows. i worked on financial crisis for twenty five years, i was 2007 through over 2008 the chief economist of the international monetary fund, just down the street. i attended a lot of very...
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Oct 30, 2012
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[laughter] and i think he sides more with simon. [laughter] actually, i do too in a number of ways that probably will surprise him and dennis and others. and the first thing on which i agree with you, simon, is that i also do not know what the next systemic crisis will be, and i am as frightened as you of it. so when i think about what the next systemic crisis might be, i think the best place to start is to think about what's caused the last ones, and i'm not going to fight over whether we've had panics in 1907 or 1933. we heard that from the first panel. i'll just go back over the last 20 years for the systemic crises we've had most recently. the first one in 1994, scheherazade, you mentioned mexico. and that was a solvency crisis because we feared that a country would go bust, ie, its credit was no good, and that would ripple with dangerous effect through the banking system. that got handled, and we puttered on til 1998 when russia and indonesia posed financial risk in the solvency system, and we managed that and puttered along, t
[laughter] and i think he sides more with simon. [laughter] actually, i do too in a number of ways that probably will surprise him and dennis and others. and the first thing on which i agree with you, simon, is that i also do not know what the next systemic crisis will be, and i am as frightened as you of it. so when i think about what the next systemic crisis might be, i think the best place to start is to think about what's caused the last ones, and i'm not going to fight over whether we've...
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Oct 27, 2012
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people go around it. >> simon company talked about monetary fiscal policy. their new book deals with that. you want to give this a short observation? was some interest in the united states on fiscal monetary policy? >> first of all, i would encourage everyone to read the work again on this issue. they have so won the papers if you don't have time, there's a great editorial opinion piece in "the wall street journal" in september 2009 called the blog that ate mandatory policy. they talk about how today to fill financial institution undercapitalized taking a risk, having big losses and operating and zombie formic monetary policy much more effective when you go into crisis. so while the mechanisms to work. it's a question of what will happen when undercover, assuming we do will recover. how that affect the ability of policy to control the economy and the ability or the impact of various changes in fiscal policy. on our fiscal cliff issues come i would say more like the distraction from the fiscal chaos will see after the election around these issues. what i woul
people go around it. >> simon company talked about monetary fiscal policy. their new book deals with that. you want to give this a short observation? was some interest in the united states on fiscal monetary policy? >> first of all, i would encourage everyone to read the work again on this issue. they have so won the papers if you don't have time, there's a great editorial opinion piece in "the wall street journal" in september 2009 called the blog that ate mandatory...
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Oct 26, 2012
10/12
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[applause] >> simon? >> welcome back. >> im simon johnson. thanks very much for allowing me and organizing another great conference. what could cause the next financial crisis? i have three things to say. first of all, i don't know. i don't know and nobody knows. i've worked on financial crises for 25 years and i was from 2007 to august of 2008 the chief economist of the international monetary fund which is just down the street. i attended a lot of interesting meetings with top officials and top sector people who know as much as can be known about the world's economy and financial system and they collectively and individually have no idea what was happening and what was going to happen in the timber of 2008. the second thing i would say is look around the world. the european situation gave a nice summary and much less sanguine about the political risks and the economic risks. i think ultimately italy will have to restructure its sovereign debt at 2 trillion euros outstanding debt and the consequence of that are effectively and noble -- unknow
[applause] >> simon? >> welcome back. >> im simon johnson. thanks very much for allowing me and organizing another great conference. what could cause the next financial crisis? i have three things to say. first of all, i don't know. i don't know and nobody knows. i've worked on financial crises for 25 years and i was from 2007 to august of 2008 the chief economist of the international monetary fund which is just down the street. i attended a lot of interesting meetings with...
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Oct 24, 2012
10/12
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back to simon and more of "the halftime report." tyler matheson hearing the extremities expectations are low that the fed will add stimulus to the economy when it releases its decision at 2:15 eastern but there are ways to trade treasuries ahead of the announcement. here dennis gartman editor of "the gartman letter" joins us on the fast line. dennis welcome to the program. what is the trade? >> simon i'm short a small amount and i mean a small amount of the ten-year, i'm short the long end of the curve for the simple reason i don't think the fed is going to do much. i don't think they can do much nor should they do much ahead of the election. what's more important to me is the fact over the course of the last year the adjusted monetary base which is the asset base, has been declining. it appears to me that the fed is allowing old securities to mature and roll off. it is replacing them a bit but not at the same pace that they are maturing. i hear a great number of people telling me that the fed continues to ease. i look at real data,
back to simon and more of "the halftime report." tyler matheson hearing the extremities expectations are low that the fed will add stimulus to the economy when it releases its decision at 2:15 eastern but there are ways to trade treasuries ahead of the announcement. here dennis gartman editor of "the gartman letter" joins us on the fast line. dennis welcome to the program. what is the trade? >> simon i'm short a small amount and i mean a small amount of the ten-year,...
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Oct 23, 2012
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it's a big day, guys. >> it is, simon. what we're looking for is something between this, the ipad available now, and this, the iphone 4. i know i'm old school. i haven't paid to upgrade to the 5. we're looking for something in the middle, maybe closer to this. the rumor is a 7.8-inch screen. here's what we care about. the market is falling again today. yesterday apple dragged everybody kicking and screaming up, finishing up 4%. is what we're going to hear in there going to be enough to help apple, to help the whole market? >> i think there are a couple of keys to that, and we'll see if they are enough. one is pricing. will apple price this aggressively enough that it will pull people into the market? but the other thipg on the other side, will they leave enough room for them to actually make a good profit on this thing? you don't want to see them price it so cheaply that they look desperate. and then the other thing is, when you look at the applications and the services that they pair with it, apple's strength is its ecosy
it's a big day, guys. >> it is, simon. what we're looking for is something between this, the ipad available now, and this, the iphone 4. i know i'm old school. i haven't paid to upgrade to the 5. we're looking for something in the middle, maybe closer to this. the rumor is a 7.8-inch screen. here's what we care about. the market is falling again today. yesterday apple dragged everybody kicking and screaming up, finishing up 4%. is what we're going to hear in there going to be enough to...
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Oct 26, 2012
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simon? >>> sue, let's stick with the u.s. economy. so-called fiscal cliff is still two months off but the threat of tax hikes and spending cuts is already reverberating through the economy. a new report by the national association of manufacturers says that if congress doesn't reach a deal to avoid the cliff, then about 6 million jobs will be destroyed through 2014. it expects the unemployment rate to soar if that happens to almost 12%. the nation's ceos also of course on the fiscal war path yesterday. we spoke to one of those 80 who are calling for congress to take action. today jpmorgan's chief jamie dimon continues the drumbeat in asia. >> the underlying strength of the economy is actually pretty good. corporations, no market size companies, consumers are in better shape. housing is turning. it isn't as strong as anyone would want. what's really, really important is good policy. we need good policy in the united states. think of a fiscal deal, simpson-bowles type deal. i think that would
simon? >>> sue, let's stick with the u.s. economy. so-called fiscal cliff is still two months off but the threat of tax hikes and spending cuts is already reverberating through the economy. a new report by the national association of manufacturers says that if congress doesn't reach a deal to avoid the cliff, then about 6 million jobs will be destroyed through 2014. it expects the unemployment rate to soar if that happens to almost 12%. the nation's ceos also of course on the fiscal...
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Oct 31, 2012
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simon? >> thank you very much for that. >>> we have some breaking news. new jersey transit is to resume some of its service this afternoon. the new jersey transit resume some of its service this afternoon. the latest as far ars the subway is concerned in new york is that some of that will start but not until tomorrow. >>> up next on the program -- more stock action. stocks that could do well and the stocks that could do poorly in the wake of this storm. see who is likely to benefit and who is likely to be hurt when we come right back with some astounding images. those little things still get you. for you, life's about her. but your erectile dysfunction - that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. tell your doctor about all your medical conditions and medications, and ask if your heart is healthy e
simon? >> thank you very much for that. >>> we have some breaking news. new jersey transit is to resume some of its service this afternoon. the new jersey transit resume some of its service this afternoon. the latest as far ars the subway is concerned in new york is that some of that will start but not until tomorrow. >>> up next on the program -- more stock action. stocks that could do well and the stocks that could do poorly in the wake of this storm. see who is likely...
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Oct 21, 2012
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. >> host: and we have been talking with reyna grande, "the distance between us: a memoir," a simon & schuster title. you are watching booktv on c-span 2. >> joseph wheelan recounts the life of general sure didn't who forced the surrender of robert e. lee at appomattox courthouse. the author recalls general sure didn't postwar career, which included command of the u.s. army. it's about 45 minutes. >> i want to thank quiller ridge books for inviting me back and all of you people for coming out to hear about general bill sheridan, who out of the triumvirate of union generals credited with winning civil war companies probably the least known of them. the others being ulysses s. grant and william tecumseh sherman. 1937, the three generals appear together in a commemorative postage stamp. as part of a series with great u.s. military commanders. and to his right is sherman and sheridan is on grants left. this is appropriate because by the time the civil war ended, sheraton was sometimes referred to as the left hand of grant of the left-handed. he was 10 years younger than grant and sherman.
. >> host: and we have been talking with reyna grande, "the distance between us: a memoir," a simon & schuster title. you are watching booktv on c-span 2. >> joseph wheelan recounts the life of general sure didn't who forced the surrender of robert e. lee at appomattox courthouse. the author recalls general sure didn't postwar career, which included command of the u.s. army. it's about 45 minutes. >> i want to thank quiller ridge books for inviting me back and...
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Oct 22, 2012
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simon, you're not married to tammy fay baker, what do you think? >> well, it's tough to recover to that one. earnings have been so disappointing as we've talked about through the show. i think for us, the most concerning thing is the reports. particularly in ibm -- >> the linearity? >> did you like that? >> yeah. >> it's like good english grammar school education. what can i tell you? particularly in technology. what i'm saying is the concern is, yes, the expectations are disappointing, but in terms of september sales being a lot softer than july, it's where the momentum is going. that's something to be a little bit concerned about. zbl zbl >> stephanie, how do you feel about the linearity. >> well, i won't go there, but only 25% of the company so far have reported. let's put this into a little bit of context here. and expectations certainly have come down pretty low. i would just say that there are pockets of strength, financials, and margins. even ibm, even schlumberger, even ge had actually okay margins. so i think that might be good enough to s
simon, you're not married to tammy fay baker, what do you think? >> well, it's tough to recover to that one. earnings have been so disappointing as we've talked about through the show. i think for us, the most concerning thing is the reports. particularly in ibm -- >> the linearity? >> did you like that? >> yeah. >> it's like good english grammar school education. what can i tell you? particularly in technology. what i'm saying is the concern is, yes, the...
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Oct 18, 2012
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simon, why? >> well, obviously got a tremendous amount of respect for you, but you know, when you're talking about -- you talked about valuations. normally when you talk about the beginning of a secular bull market, it's low valuations in low singles. still pretty high up in the 14s. if we were to take your buy and hold over the last ten years, most retail investors are still even up a little bit. and listening to your comment there saying from intermediate to longer term, that's another five years. it would seem you need to be tactical rather than take a very diverse wide approach in here. because i mean our position is we're still sort of muddling through a secular bear market. what would be your reaction to that a posed to the beginning of a secular bull market? based on valuation? >> so if we're in a secular bear, i guess we've got to go back under 666 on the s&p, which would be a long way down. i think that established the bottom for us back in 2009. i do think that we're in a longer term bu
simon, why? >> well, obviously got a tremendous amount of respect for you, but you know, when you're talking about -- you talked about valuations. normally when you talk about the beginning of a secular bull market, it's low valuations in low singles. still pretty high up in the 14s. if we were to take your buy and hold over the last ten years, most retail investors are still even up a little bit. and listening to your comment there saying from intermediate to longer term, that's another...
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Oct 23, 2012
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i'm simon constable. >> susie: let's take a look at what's coming up tomorrow on "n.b.r." we'll see if investors like facebook earnings, the company releases quarterly results after the bell. also tomorrow, a big product debut from apple, and as we mentioned, all bets are on an ipad mini. and ben bernanke and his fellow policymakers at the federal reserve kick off a two-day policy meeting. that's nightly business report for monday, october 22. he a great evening everyone. we'll see you online at: www.nbr.com and back here tomorrow night. captioning sponsored by wpbt captioned by media access group at wgbh access.wh.ioorg
i'm simon constable. >> susie: let's take a look at what's coming up tomorrow on "n.b.r." we'll see if investors like facebook earnings, the company releases quarterly results after the bell. also tomorrow, a big product debut from apple, and as we mentioned, all bets are on an ipad mini. and ben bernanke and his fellow policymakers at the federal reserve kick off a two-day policy meeting. that's nightly business report for monday, october 22. he a great evening everyone. we'll...
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Oct 17, 2012
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simon? >>> we have two big stories in housing right now. the first is the big jump that we've reported today in housing starts. the second is breaking right now with diana olick in washington. >> simon, bank of america reporting it has completed or approved more than $4.75 billion in more principal reductions. 30,000 homeowners getting their loans slashed by an average $145,000 each. bank says it will meet its total obligations under the settlement in the first of the three-year agreement. now that break news just adds to the positive numbers in housing out today. construction and permits for new homes. one analyst called the numbers blowout and the jumps are big. but remember the actual number of housing starts is still below any number we've seen since 1982. we are about half-way back to a normal new home market. total september housing starts jumped nearly 35% from a year ago. single family starts up 43% from a year ago. multi-family up 19%. it is the permits that are really stunning. tot
simon? >>> we have two big stories in housing right now. the first is the big jump that we've reported today in housing starts. the second is breaking right now with diana olick in washington. >> simon, bank of america reporting it has completed or approved more than $4.75 billion in more principal reductions. 30,000 homeowners getting their loans slashed by an average $145,000 each. bank says it will meet its total obligations under the settlement in the first of the three-year...
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Oct 21, 2012
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simon kenneth green has been instrumental in getting me here. one final slide. in this book, we talked mostly about barack obama here. rush is one chapter piercy imagine how much information they packed into this the paper talk about organic food, genetically modified food in the future could come environmentalism, solar power, vaccines, european science, gender research, science journalism, false equivalence, wore an excellent and important issues for 2012 and beyond. that said, that's all i have. thank you very much. [applause] >> by the book. it's worth the investment of me. i have a bunch of questions, but i'm going to go to the floor after only asking one of them. could you talk a little bit about how natural gas went from being clean burning natural gas in the environmental movement to the point where we now have a war on natural gas from the mainstream? >> that's a great question. john and sign has a great answer to this. natural gas is to be a turning of the environment must the environmentalist hippies to say this is a lot better than coal and oil. in f
simon kenneth green has been instrumental in getting me here. one final slide. in this book, we talked mostly about barack obama here. rush is one chapter piercy imagine how much information they packed into this the paper talk about organic food, genetically modified food in the future could come environmentalism, solar power, vaccines, european science, gender research, science journalism, false equivalence, wore an excellent and important issues for 2012 and beyond. that said, that's all i...
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Oct 9, 2012
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simon? >> the finance by the german taxpayers, we should make that clear, carolyn, we are seeing the pictures there as police continue to move protesters back. can you give us an idea how far away angela merkel is from where you are at the moment and the types of red lines of security forces and the no-go areas in order to keep merkel and samara safe. >> reporter: well, merkel and some of us are a half month away from here. it is walking distance but they are in safety here. and i do want to point out that the police, yes, they have put in this red zone, this no-go zone, but again the two major unions, the public and private sector unions already had rallies approved before this red zone was actually implemented. so they were able to come into the square, into this red zone and protest. and it will probably follow other protesters. so it is very hard to control who is actually being let into this red zone. simon? >> carolyn, thank you very much. stay safe. carolyn roth there live from athens
simon? >> the finance by the german taxpayers, we should make that clear, carolyn, we are seeing the pictures there as police continue to move protesters back. can you give us an idea how far away angela merkel is from where you are at the moment and the types of red lines of security forces and the no-go areas in order to keep merkel and samara safe. >> reporter: well, merkel and some of us are a half month away from here. it is walking distance but they are in safety here. and i...
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Oct 23, 2012
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simon you said in half time today a good point that a lot of times people come on air and say something differently when they are up on the balcony before they come on set. i was somewhat surprised when i said today it is not about the earnings. of course, earnings have been disappointing. i felt the set up in terms of the market reaction today and really for the next two weeks was much more about the idea that people are beginning to realize whoever wins that election in two weeks that in both scenarios it is negative for the stock market in the short term. it is the realization that people are starting to factor that in. >> what is positive two weeks ago? people are making an argument that maybe the fiscal cliff gets done before the elections or obama stays and punch bowl stays and bernanke stays. there was an argument in the other direction two weeks ago. >> i believe when you were seeing through early october was the early performance catch up. i recently showed that apple was everybody had a market waiting. a lot of that happened between the summer into the early part of october. w
simon you said in half time today a good point that a lot of times people come on air and say something differently when they are up on the balcony before they come on set. i was somewhat surprised when i said today it is not about the earnings. of course, earnings have been disappointing. i felt the set up in terms of the market reaction today and really for the next two weeks was much more about the idea that people are beginning to realize whoever wins that election in two weeks that in both...
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Oct 12, 2012
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. >> thank you very much for joining us, simon. we will have more in the next half-hour. >> turkey has deployed fighter jets to its syrian border. >> both sides are sticking to their story about the syrian air jets. >> they have seen days of heavy fighting. the syrian army is trying to recapture rebels. at one point, a syrian helicopter veered into turkish airspace but was immediately pushed back. it is yet another incident to raise tensions between the two countries. anchor is still simmering over stopping a syrian airliner. they claim it was carrying russian weapons for the syrian army. what's the cargo consisted of electrical equipment for a radar station. it is not prohibited under any condition. >> there deploying additional tanks and fighter jets as they look at a possible intervention in syria. it is definitely in full swing. over the last few days, hundreds of people have gone to the border to turkey. tensions are not likely to ease anytime soon. >> a clash erupted in cairo's tahrir square over the support and opposition of
. >> thank you very much for joining us, simon. we will have more in the next half-hour. >> turkey has deployed fighter jets to its syrian border. >> both sides are sticking to their story about the syrian air jets. >> they have seen days of heavy fighting. the syrian army is trying to recapture rebels. at one point, a syrian helicopter veered into turkish airspace but was immediately pushed back. it is yet another incident to raise tensions between the two countries....
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Oct 9, 2012
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to the presidents and leaders and tell you exactly because of the luxury of time and my publisher, simon & schuster, i declined to get the meeting notes to get the exact detail to interview president obama and speaker boehner and the key players in this. i just want to take one quick snapshot from what happened that we didn't know about, which is critical. when the cops pull up less when the president was upset, he called the congressional leaders on a saturday morning at 11:00 o'clock a.m. something in democratic andemoat republican leader were trying to work outth the own deal harry reid, the democratic leader, said to the president, mr. president, could you please leave the room? i have covered presidents for four years. i know of no other time where the president was asked the meeting in his own house that he had called. i asked the president about this. i said how did it feel to be voted off the island in your own house. because that is what happened. he said that he was not going to stand on protocol, that the problem needed to be solved. but in the next day, he called democratic l
to the presidents and leaders and tell you exactly because of the luxury of time and my publisher, simon & schuster, i declined to get the meeting notes to get the exact detail to interview president obama and speaker boehner and the key players in this. i just want to take one quick snapshot from what happened that we didn't know about, which is critical. when the cops pull up less when the president was upset, he called the congressional leaders on a saturday morning at 11:00 o'clock a.m....
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impact might this have on a legitimate seat of our election for more on this i'm joined by jonathan simon co-founder and director of the election defense alliance jonathan welcome. thank you tom the the a.p. and news organizations are dropping exit polls in nineteen states to save money or perhaps to increase profits i guess you could say their way shouldn't this shouldn't have been to do exit polls simply be the price of admission if you're going to call yourself a news agency. well first of all to clarify these are nineteen states that are regarded as noncompetitive when it comes presidential election and one or two have competitive senate races but for the most part they're states that are solid red solid blue so there are explanation as well you don't really need exit polls there are two pairs and in fact exit polls in general have been largely discredited as a check mechanism on the alluded to the vote counts anymore and possibly self late or you came out and said you know our polls are for academic analysis purposes only and anybody who wants to use in that subject mechanism is basi
impact might this have on a legitimate seat of our election for more on this i'm joined by jonathan simon co-founder and director of the election defense alliance jonathan welcome. thank you tom the the a.p. and news organizations are dropping exit polls in nineteen states to save money or perhaps to increase profits i guess you could say their way shouldn't this shouldn't have been to do exit polls simply be the price of admission if you're going to call yourself a news agency. well first of...
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Oct 2, 2012
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. >> -- i'm david simon's best friend, i'm going to deliver a transaction very attractive to simon. the way the board analyzed the transaction, they looked at as as if we're selling the company. in a transaction they own something like 30% of the combined company. we're not cashing people out. we're not looking to are a short term pop. we're merging and more levered company with less levered company with a strong management team. >> if you are going after p&g the whole company you might want to -- >> team up with -- >> you got 1% or something? i mean -- >> we're not going after p&g. >> while he's here, he should ask. >> you're trying to get rid of the ceo. >> p&g is one of the great companies of all-time, been in growth for 75 years it's stumbled over the last several years under the current ceo's leadership, and we've kind of laid out what our concerns are and i think our concerns are not our concerns. they're the concerns of all the shareholders. >> do you think your concerns are being heeded? >> absolutely. we were received at a very seriously by the board, we had a great meeting
. >> -- i'm david simon's best friend, i'm going to deliver a transaction very attractive to simon. the way the board analyzed the transaction, they looked at as as if we're selling the company. in a transaction they own something like 30% of the combined company. we're not cashing people out. we're not looking to are a short term pop. we're merging and more levered company with less levered company with a strong management team. >> if you are going after p&g the whole company...
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Oct 19, 2012
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i'm ted simons. as for now, you have a great evening. >> i've made mistakes in my personal finances. i'm not perfect, but i made this and fix them. the fact is that everybody sues looking into these allegations have said that they are completely false. everyone from the connecticut post and the danbury news times, ever independent financial expert. and what makes a lot of these attack ads that we've seen from linda mcmahon especially troubling is the fact that during the exact same time, linda mcmahon still hadn't paid back the $1 million to creditors during bankruptcy 36 years ago. >> congressman murphy, i agree with you to talk about issues in the state. an occasional financial but this novel were talking about here. but you absolutely need to be honest with the people of connecticut. you need to be honest about your special interest loans. you need to be honest about your tenants in washington. those are issues important to the folks of connecticut because they want to know, can i trust the congre
i'm ted simons. as for now, you have a great evening. >> i've made mistakes in my personal finances. i'm not perfect, but i made this and fix them. the fact is that everybody sues looking into these allegations have said that they are completely false. everyone from the connecticut post and the danbury news times, ever independent financial expert. and what makes a lot of these attack ads that we've seen from linda mcmahon especially troubling is the fact that during the exact same time,...
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Oct 2, 2012
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alisyn: simon, what happened to if you like your doctor, you can keep your doctor, period. if you like your insurance carrier, you can keep your coverage, period? >> i think what the president was referring to is that under the aca, his health care reform, that there was nothing he was going to do or that they were doing that would prevent, that would push people out of their own health care plans. there's nothing the government was doing and, in fact, the fact that the private market is innovating in this way -- and whether it works or not, we'll find out -- is a sign this was not a government takeover of the health care system as you've heard many people say over the last couple months. i think what we need in this health care, and i think the president has begun this, we need more innovation, more efforts to give people more choice. we've got to control costs, get more people on health insurance, and i just want to comment on something steve said. he said something that is just completely false. he argued that there are many businesses that are moving people to put them
alisyn: simon, what happened to if you like your doctor, you can keep your doctor, period. if you like your insurance carrier, you can keep your coverage, period? >> i think what the president was referring to is that under the aca, his health care reform, that there was nothing he was going to do or that they were doing that would prevent, that would push people out of their own health care plans. there's nothing the government was doing and, in fact, the fact that the private market is...
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Oct 10, 2012
10/12
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good morning. >> indeed, simon. thanks so much. david siegel's the ceo of westgate resorts, sent an e-mail to employees saying if obama wins, they could all lose their jobs. the e-mail said that "if any new taxes are levied on me or my company as our current president plans, i will have no choice but to reduce the size of this company." he said he may even consider shutting down the company entirely meaning all 7,000 workers would lose their jobs. if obama wins, he says, "you can find me in the caribbean sitting on a beach with no employees to worry about." now what makes this e-mail even more explosive, simon, is its author, david siegel, the man who built the largest home in america. he and his wife, jackie, built versailles, that 90,000 square foot palace near orlando. the first story was told in the book "the high beta rich." siegel buckled under $1 billion in debt during the crisis, we to lay off 5,000 workers, versailles wanted a technical foreclosure proceedings. the house was put up for sale. siegel says he's back now, he's
good morning. >> indeed, simon. thanks so much. david siegel's the ceo of westgate resorts, sent an e-mail to employees saying if obama wins, they could all lose their jobs. the e-mail said that "if any new taxes are levied on me or my company as our current president plans, i will have no choice but to reduce the size of this company." he said he may even consider shutting down the company entirely meaning all 7,000 workers would lose their jobs. if obama wins, he says,...
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Oct 23, 2012
10/12
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many catholic groups are most notable in networks led by sister simone and the nuns on the bus have been vocal critics of the ryan budget which would cut spending of social services. republicans have been heavily influenced by the tea party movement in the past three years, and the tea party espouses of course that government should be far less responsible for providing the service. they believe that when the government provides social welfare it creates a culture of dependency among americans but i was struck that paul ryan use those words talk about welfare reform. so the american values survey asked americans whether they were more likely to agree that government policy and helping the poor served as a critical safety net or whether they create a culture of dependency where people are provided with too many handouts. so figure nine shows the percentage of americans were more likely to say that those policies create a culture of dependency. it's relatively few, only 32% of americans say social welfare policies create a culture of dependency. there is a gender gap here as well, not surp
many catholic groups are most notable in networks led by sister simone and the nuns on the bus have been vocal critics of the ryan budget which would cut spending of social services. republicans have been heavily influenced by the tea party movement in the past three years, and the tea party espouses of course that government should be far less responsible for providing the service. they believe that when the government provides social welfare it creates a culture of dependency among americans...
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Oct 26, 2012
10/12
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simon, see you in 30. we'll talk a little bit of europe, as well. >>> if you're just joining us -- we'll do the tape in a second. when you take a closer look... ...at the best schools in the world... ...you see they all have something very interesting in common. they have teachers... ...with a deeper knowledge of their subjects. as a result, their students achieve at a higher level. let's develop more stars in education. let's invest in our teachers... ...so they can inspire our students. let's solve this. >>> welcome to hour three of "squawk on the street." here's what's happening so far. >> we need to put in place a framework so that markets look and see that after the economy recovers, whenever that comes, it will take time. after the economy is fully recovered, that the nation's finances are sustainable. >> we need to have both sides kind of go -- one hand, $250,000 in income, on the other hand, effectively infinity, they need come together in some way or we're not going to have a deal. >> our first lo
simon, see you in 30. we'll talk a little bit of europe, as well. >>> if you're just joining us -- we'll do the tape in a second. when you take a closer look... ...at the best schools in the world... ...you see they all have something very interesting in common. they have teachers... ...with a deeper knowledge of their subjects. as a result, their students achieve at a higher level. let's develop more stars in education. let's invest in our teachers... ...so they can inspire our...
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Oct 11, 2012
10/12
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simon, there was suggestion the deal collapsed because of german objections. what was it the germans were not happy about? >> it seems that germany, like france, was unwilling to give up state influence over this important defense company, which is what bae systems wanted them to do in order to secure more access to that all-important american defense market. i think germany was also worried it might be left out of important developments in military technology. the german authorities think that germany's interests are best served if this franco- german company retains control of the whole chain from research through to production. there's also a report that germans had suggested moving the headquarters of the merged company to munich, which would have annoyed the other two companies. >> was that all that was blocking the deal from going ahead? >> in the and, you have to see this was a hugely difficult deal that involves getting agreement from two companies, three governments, and that is incredibly difficult to do. the euro crisis has not helped, and in the en
simon, there was suggestion the deal collapsed because of german objections. what was it the germans were not happy about? >> it seems that germany, like france, was unwilling to give up state influence over this important defense company, which is what bae systems wanted them to do in order to secure more access to that all-important american defense market. i think germany was also worried it might be left out of important developments in military technology. the german authorities...
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Oct 22, 2012
10/12
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here's wall street journal columnist simon constable. >> something has vanished from mainstreet. its trust in wall street. as a result small investors are dumping stocks. in fact, even as the stock market has soared close to record highs, mutual and exchange-traded fund investors, a rough proxy for retail stock buyers, have dumped $138 billion in shares, that's billion with a "b", accorng to datarom the investment company institute. some people will tell you that's because small investors are too emotional and so they make terrible decisions. they were burned by the credit crunch and the popping of the tech bubble and are now are gun shy. in short, the message is, they are stupid because they've missed the recent rally, but maybe they aren't. maybe they are justly shy of shenanigans on wall street. new research shows that one in five chief financial officers of public companies admit to cooking the books. the study comes from professors at emory and duke universities. in a survey they found that about 20% of c.f.o.s used accounting tricks that didn't reflect the companies underly
here's wall street journal columnist simon constable. >> something has vanished from mainstreet. its trust in wall street. as a result small investors are dumping stocks. in fact, even as the stock market has soared close to record highs, mutual and exchange-traded fund investors, a rough proxy for retail stock buyers, have dumped $138 billion in shares, that's billion with a "b", accorng to datarom the investment company institute. some people will tell you that's because small...
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Oct 2, 2012
10/12
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we'll begin with simon huff. hey, simon. >> shawn matthews will be joining us. microsoft, google or apple? we'll also have renown chef nobu on the program. he's opening a hotel in vegas, believe it or not. back to you. >> that jalapeno is the best thing on the planet. meanwhile, six in 60. >> it is a bunch of new products. deutsche says panera remains strong. >> this is the survivor. this is the quick service food people really like. >> credit sweeps goes from a hold to a sell on safeway. >> this is whole foods. trader joe's if it became public would be a sidebar. >> b of a, recommended by sirius xm? >> this really is interesting that the stock could be capped by liberty media, but they went out to give it a $3 price tag. please don't change that. >> wynn resorts, buy it? >> when is a chinese play. you have to believe that the chinese are going to start spending again or it won't work. >> skywork solutions? >> this is one, do they have enough in the apple ipod? do they not? it goes back and forth. >> more of the names, go to our website. >> mosaic is the oldest
we'll begin with simon huff. hey, simon. >> shawn matthews will be joining us. microsoft, google or apple? we'll also have renown chef nobu on the program. he's opening a hotel in vegas, believe it or not. back to you. >> that jalapeno is the best thing on the planet. meanwhile, six in 60. >> it is a bunch of new products. deutsche says panera remains strong. >> this is the survivor. this is the quick service food people really like. >> credit sweeps goes from a...
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Oct 16, 2012
10/12
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simon, california. he asked a question about lnco. it is a company that came public last friday. i was caught not ready. you might wonder why it exists. the company's sole purpose is to own units in energy. it happens to be a partnership. but what is the own debt of that? like detra? i've been a fan of lin energy for decades. ♪ hallelujah in may of 2009 i said, wow, these guys know how to drill. they own a whole host of oil and gas properties across the united states. they are able to maintain or grow cash flow. they are not squash buckling drillers. they are the opposite of wild caters. but the production is 100% hedge. i look at the high prices. you don't have to worry about volatile commodity prices. since 2003 the company has made 54 acquisitions for a total of $10 billion. during 2012 alone the company bought 1.2 oil and gas properties in the kansas basin. bp was so strapped for cash. boo et boo! . and in july line hit up bp again and acquired 23% interest in the field in exchange for recovering $400 million. it is a tremendous company with a fantastic growth prospect. con
simon, california. he asked a question about lnco. it is a company that came public last friday. i was caught not ready. you might wonder why it exists. the company's sole purpose is to own units in energy. it happens to be a partnership. but what is the own debt of that? like detra? i've been a fan of lin energy for decades. ♪ hallelujah in may of 2009 i said, wow, these guys know how to drill. they own a whole host of oil and gas properties across the united states. they are able to...
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Oct 12, 2012
10/12
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simon? >> caller: boo-yah. thanks for everything you do for the small investors. >> doing my best. thank you, simon. >> caller: linn energy is pricing to make it easier for iras and 401(k)s to participate in the limited partnerships high yield without tax headaches. do you recommend picking up some lame code ticker or -- >> you know, when i first looked at it it was terrific. i wanted to see where it was priced, where it trades. i don't want to say, yeah, it's good or bad. all these are about price. as i have learned too well with some of them that were -- that looked cheap for me but it turned out to be overpriced. let me come back online. john in oregon, please. john? >> caller: hey, jim. boo-yah from western oregon. i have a question about the home construction. i'm caught holding d.r. horton at a kind of loss. do you think the nice ride that we have had on residential construction is over with or not? >> this is a group and i was doing work on toll brothers. they have big spurts, then slam downs. everyone says it's over in the slam down and you should be a buyer not a seller. i
simon? >> caller: boo-yah. thanks for everything you do for the small investors. >> doing my best. thank you, simon. >> caller: linn energy is pricing to make it easier for iras and 401(k)s to participate in the limited partnerships high yield without tax headaches. do you recommend picking up some lame code ticker or -- >> you know, when i first looked at it it was terrific. i wanted to see where it was priced, where it trades. i don't want to say, yeah, it's good or...
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Oct 23, 2012
10/12
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LINKTV
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there's an amazing story- you've heard of the mennonites- simon menno? he is one of the ones that tries to get some common ground, because when this explodes, this anabaptist fervor- for instance, the town of munster, a group of radical anabaptists took over the town, and they said, "jesus is coming back at any time now, and we need to be holy." so they took over the town, and they actually persecuted lutherans and catholics in it. well, shortly thereafter, an army made up of both protestants and catholics surrounded the town, and many people were- died. now out of that, someone, like mennonites, like simon, comes out of there and says, "we have to have a more neutral path." and so a certain set of doctrines were developed that the amish eventually draw on. jacob amman, the founder of the amish, tries to find a ground that is not radical, that is not so disruptive, but keeps that wall there. and we look to that period of time, where we're talking about the avoidance- you've heard of the shunning, or avoidance, the ban- that becomes part of it. if somebod
there's an amazing story- you've heard of the mennonites- simon menno? he is one of the ones that tries to get some common ground, because when this explodes, this anabaptist fervor- for instance, the town of munster, a group of radical anabaptists took over the town, and they said, "jesus is coming back at any time now, and we need to be holy." so they took over the town, and they actually persecuted lutherans and catholics in it. well, shortly thereafter, an army made up of both...
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Oct 2, 2012
10/12
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. >> but america runs on it simon. >> i mean. stephanie. >> thoughts? >> the same thing would be tobacco, make some energy drinks. >> but those names come to mind. >> we have senators looking into the marketing practices. >> but i like karen's idea. but what about facebook? liking people and all of that. >> changing of status. >> next on fast, a penny for your thoughts. one of our traders has the trade of the day that is next. [ male announcer ] trading's like a high-speed train. and you don't want to miss it with thinkorswim by td ameritrade. you get knock-your-socks-off tools, simple one-click orders, real-time paper trading to hone your skills, plus anytime you need it support. ♪ stocks, options, futures, and forex. get your trading on track. thinkorswim by td ameritrade. trade commission free for 60 days, plus get up to $600 when you open an account. jack, you're a little boring. boring. boring. [ jack ] after lauren broke up with me, i went to the citi private pass page and decided to be...not boring. that's how i met marilyn... giada... really g
. >> but america runs on it simon. >> i mean. stephanie. >> thoughts? >> the same thing would be tobacco, make some energy drinks. >> but those names come to mind. >> we have senators looking into the marketing practices. >> but i like karen's idea. but what about facebook? liking people and all of that. >> changing of status. >> next on fast, a penny for your thoughts. one of our traders has the trade of the day that is next. [ male...
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Oct 8, 2012
10/12
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CSPAN2
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come fly with me, wake up little susie, the simon and garfunkel version. radar love, the theme from mission impossible and, probably my favorite, where is my mind by the pixies. [laughter] so the burning question is, who gets to pick the songs? >> actually, you know, i was only tangentially aware of that, and i recognize it from your telling it. i really don't know. so it sounds like a great talk for somebody -- [laughter] probably i would say it's jpl, within their team probably. >> okay. and we can tell from their dress code they're a wild bunch, so that explains a lot of the songs. the last question i know you are an expert in, and that is your own trajectory into coming into planetary science and enjoying it and living with it. and i can see you're still enthusiastic about it. what have been the high points and the low points for you in the world of science, and what keeps you enthusiastic about it? >> well, the whole -- my whole time at nasa which is now almost 15 years is a high point in my career. so bringing -- i'm a computer scientist, but really
come fly with me, wake up little susie, the simon and garfunkel version. radar love, the theme from mission impossible and, probably my favorite, where is my mind by the pixies. [laughter] so the burning question is, who gets to pick the songs? >> actually, you know, i was only tangentially aware of that, and i recognize it from your telling it. i really don't know. so it sounds like a great talk for somebody -- [laughter] probably i would say it's jpl, within their team probably....
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Oct 5, 2012
10/12
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. >> good luck, guys. >> thank you, simon. nice to be here. >> we have another market flash for you, once again. it's within the food industry. courtney reagan, what's the name? >> thank you, david. i'm a little hungry this morning. it's dunkin brands. citi says they see them tracking above consensus. consensus is 2%. citi thinks they're looking up 3%. as a result, shares are higher, carl. back to you. >> thanks so much. let's take a quick check of the markets. the dow sitting near its highest levels in almost five years since december 2007 on the back of that strong jobs number, perhaps. s&p not quite at an intraday high for the year and 1469 and got to get to 1474.51 to set a new interview intra day high for 2012. when we come back, more pain at the pump and up next we'll find out yet perfect storm will be brewing in california. a state that refines its own gasoline and why stations are closing their doors. that's next. if we want to improve our schools... ...what should we invest in? maybe new buildings? what about updated
. >> good luck, guys. >> thank you, simon. nice to be here. >> we have another market flash for you, once again. it's within the food industry. courtney reagan, what's the name? >> thank you, david. i'm a little hungry this morning. it's dunkin brands. citi says they see them tracking above consensus. consensus is 2%. citi thinks they're looking up 3%. as a result, shares are higher, carl. back to you. >> thanks so much. let's take a quick check of the markets. the...
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debt and deficit simon the kaleb edge of ideas capital is here to talk about it and speaking of deficits according to the financial times japan's finance ministry will hold crisis talks with bond dealers tomorrow as politicians there are at odds over a bill that's needed to allow billions more in borrowing to finance the country's deficit sound familiar japan is often brought up when talking about a country the u.s. is ability to run deficits will discuss the lessons for the u.s. and new g.d.p. numbers from the u.k. if you put stock in them they show the countries rebounding from recession growing by one percent is this growth a reflection of better days to come or is it just the result of one off the lympics summer spending we'll talk let's get to today's capital account. we all know the drill the us has been running trillion dollar budget deficits amounting to more than sixteen trillion dollars in national debt with no plan that the markets have deemed credible to significantly rein in spending let alone balance the budget c e o's are trying to act like they want to do something about
debt and deficit simon the kaleb edge of ideas capital is here to talk about it and speaking of deficits according to the financial times japan's finance ministry will hold crisis talks with bond dealers tomorrow as politicians there are at odds over a bill that's needed to allow billions more in borrowing to finance the country's deficit sound familiar japan is often brought up when talking about a country the u.s. is ability to run deficits will discuss the lessons for the u.s. and new g.d.p....
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Oct 30, 2012
10/12
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jerry seinfeld, robert de niro, paul simon some of the name 2s s that have properties out here. we wait for sunlight to assess the damage. it's almost like a video game on the roads where you have to duck under things and around things. took about a four hour nap, went to bed with 600,000 customers on long island without power. woke up with 900,000 customers. that's not people, just homes. so a lot more people do not have power. overall, it's about 6.5 million customers that did not have power. here it was about the surge in the ocean and the wind damage. the rain didn't create the issue. it will be about property damage. and as soon as we get first light, we'll go out and see what the damage is. a lot of downed trees. we've seen huge trees coming down in the surf through late yesterday. and in terms of the equipment, it's really so difficult to model that now because we just don't know what we're going to see when we get out there. it's been a tremendous element of electrical fires and in terms of first responders, we haven't been able to get to some. two fires on the beach the
jerry seinfeld, robert de niro, paul simon some of the name 2s s that have properties out here. we wait for sunlight to assess the damage. it's almost like a video game on the roads where you have to duck under things and around things. took about a four hour nap, went to bed with 600,000 customers on long island without power. woke up with 900,000 customers. that's not people, just homes. so a lot more people do not have power. overall, it's about 6.5 million customers that did not have power....
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Oct 16, 2012
10/12
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FBC
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you have simon properties, they should be fee, westfield group, their mall is everywhere. we talked to stephen and peter, the ceos, they're pretty stunning that comes to what they believe is a really good time for commercial real estate. >> you think about the strong class double-a malls, actually doing quite well. margins are up, the ability to capitalize on consumers around the world. it is a great operating business for them. it is not just a u.s. business or australia, good mall operators are taking that to scale. liz: your fund has about 1.3 billion? >> yes, correct. liz: if you're sitting across the table from a bunch of guys and roasted, what would be the consensus? smoking hot in which country? >> it is not a country, not a market, each individual market is distinct for itself like when we saw prices in the u.s. dropped 40% in homes, surf and not on park avenue. what they like to look for is almost a bond portfolio. duration of real estate around the world. looking at europe, great opportunities when the market recovers. 20, 30% below evaluations. liz: what about c
you have simon properties, they should be fee, westfield group, their mall is everywhere. we talked to stephen and peter, the ceos, they're pretty stunning that comes to what they believe is a really good time for commercial real estate. >> you think about the strong class double-a malls, actually doing quite well. margins are up, the ability to capitalize on consumers around the world. it is a great operating business for them. it is not just a u.s. business or australia, good mall...